Types of conversions
Fiat to stablecoin
To onramp funds from a bank account to your Privy custodial wallet, you can use either of the following methods:- Virtual account: Permanent, reusable fiat deposit addresses that convert incoming fiat into stablecoins, directly deposited into the Privy custodial wallet.
- Transfers: Generate deposit instructions for the sender. Once the sender completes the deposit, the stablecoins are deposited into the Privy custodial wallet.
Stablecoin to stablecoin
When funding from another wallet via a different chain or asset, you can use liquidation addresses to convert the funds into the desired stablecoin and deposit them into the Privy custodial wallet.Stablecoin to fiat
To offramp funds from your Privy custodial wallet to a bank account, use the Bridge transfers API to generate onchain deposit instructions for the Privy custodial wallet. Once funds have been sent from the wallet, the funds will land in the bank account provided.Payout flow
When sending funds out of the Privy custodial wallet using Bridge orchestration to either an onchain destination or bank account, the flow uses both the Bridge API and Privy API:- Call the Bridge transfers API to generate the
source_deposit_instructionsfor the Privy custodial wallet. - Use Privy to send the funds from the Privy custodial wallet to
source_deposit_instructions.address. - Wait until funds have been converted to the desired destination asset and location (e.g. onchain or bank account).